Best Bankruptcy Lawyers in White Plains

About Bankruptcy Law in White Plains, United States:

Bankruptcy law in White Plains, United States, provides individuals and businesses with a legal framework for managing their debts when they are unable to pay them. It allows them to either discharge or restructure their debts under the supervision of a court. Bankruptcy can offer a fresh start to those who are overwhelmed by their financial obligations.

Why You May Need a Lawyer:

Bankruptcy law can be complex, and the process of filing for bankruptcy can be overwhelming. A lawyer can help you understand your options, navigate the legal system, and ensure that your rights are protected throughout the process. Some common situations where you may need a lawyer for bankruptcy include determining which type of bankruptcy is right for you, representing you in court hearings, and negotiating with creditors on your behalf.

Local Laws Overview:

In White Plains, United States, bankruptcy cases are typically filed in the United States Bankruptcy Court for the Southern District of New York. The most common types of bankruptcy for individuals are Chapter 7 and Chapter 13. Chapter 7 allows for the liquidation of assets to pay off debts, while Chapter 13 involves creating a repayment plan to pay off debts over time. It's important to be aware of the exemptions and requirements specific to White Plains when filing for bankruptcy.

Frequently Asked Questions:

1. What are the different types of bankruptcy?

There are several types of bankruptcy, but the most common for individuals are Chapter 7 and Chapter 13. Chapter 7 involves liquidating assets to pay off debts, while Chapter 13 involves creating a repayment plan to pay off debts over time.

2. Will I lose all my assets if I file for bankruptcy?

Not necessarily. Bankruptcy exemptions allow you to protect certain assets from being liquidated to pay off debts. Working with a lawyer can help you understand which of your assets may be at risk and how to protect them.

3. How long does the bankruptcy process typically take?

The length of the bankruptcy process can vary depending on the type of bankruptcy and the complexity of your case. In general, Chapter 7 bankruptcies can be completed in a few months, while Chapter 13 bankruptcies usually take three to five years to complete.

4. Will filing for bankruptcy ruin my credit?

Filing for bankruptcy will have a negative impact on your credit score, but it is possible to rebuild your credit over time. Many people find that their credit scores actually improve after filing for bankruptcy, as they are able to discharge or restructure their debts and start fresh.

5. Can I keep my house and car if I file for bankruptcy?

It depends on the type of bankruptcy you file and the equity you have in your house and car. In many cases, you can keep your house and car by continuing to make payments on them. A lawyer can help you understand your options for keeping your assets.

6. Will all of my debts be discharged in bankruptcy?

Not all debts can be discharged in bankruptcy. Some common types of debts that cannot be discharged include student loans, child support, and certain tax debts. A lawyer can help you understand which of your debts may not be discharged in bankruptcy.

7. What happens if I don't qualify for Chapter 7 bankruptcy?

If you do not qualify for Chapter 7 bankruptcy, you may still be eligible for Chapter 13 bankruptcy. Chapter 13 involves creating a repayment plan to pay off debts over time, rather than liquidating assets to pay off debts. A lawyer can help you determine which type of bankruptcy is right for you.

8. Can I file for bankruptcy without a lawyer?

While it is possible to file for bankruptcy without a lawyer, it is not recommended. Bankruptcy law is complex, and the process of filing for bankruptcy can be overwhelming. A lawyer can help you understand your options, navigate the legal system, and ensure that your rights are protected throughout the process.

9. How much does it cost to hire a bankruptcy lawyer?

The cost of hiring a bankruptcy lawyer can vary depending on the complexity of your case and the lawyer's experience. Some lawyers may offer a flat fee for bankruptcy services, while others may charge an hourly rate. It's important to discuss fees and payment options with your lawyer before hiring them.

10. How can I find a reputable bankruptcy lawyer in White Plains?

You can find a reputable bankruptcy lawyer in White Plains by asking for referrals from friends or family members, checking online reviews, and contacting local bar associations for recommendations. It's important to choose a lawyer with experience in bankruptcy law and a track record of success in helping clients navigate the bankruptcy process.

Additional Resources:

For more information on bankruptcy law in White Plains, you can visit the United States Bankruptcy Court for the Southern District of New York's website at www.nysb.uscourts.gov. You can also contact the New York State Bar Association for resources and referrals to bankruptcy lawyers in the area.

Next Steps:

If you are considering filing for bankruptcy or have questions about the bankruptcy process in White Plains, it's important to seek legal advice from a qualified bankruptcy lawyer. A lawyer can help you understand your options, protect your rights, and guide you through the bankruptcy process. Contact a bankruptcy lawyer in White Plains today to schedule a consultation and discuss your options for managing your debts.